AWF to raise $14 mln in rights issue, appoints Simon Bennett as new CEO

Sun, 22 Feb 2015

By Paul McBeth Feb. 23 (BusinessDesk) - AWF Group, the contract labour firm, plans to raise up $14 million in a rights issue to repay bank debt used to buy white-collar recruitment agency Madison last year, and named Madison boss Simon Bennett to take over as chief executive in July. The Auckland-based company will offer existing shareholders the right to buy one new share for every four they own at $2.10 apiece, a 16 percent discount to last trading price at $2.50 on Friday. The rights issue is fully underwritten by Deutsche Craigs, and...

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